Idaho Strategic reports 2023 revenue from concentrate sales $13.6M

Compares to $9.6M last year. Idaho Strategic’s CEO and President, John Swallow stated, “2023 proved to be a pivotal year for Idaho Strategic. At the end of 2022 we knew a year of blocking and tackling lay ahead and our team really delivered. Not only did we continue our track record of profitable gold production established in Q4 of 2022, but we also advanced our Golden Chest and critical minerals exploration efforts considerably. Looking beyond the operations, I believe our overall business plan is being validated amongst a broadening array of stakeholders within and outside of the sector. Throughout the year we gained knowledge, built relationships, and worked to expand exposure to those that typically invest elsewhere. The benefits of our production-backed exploration business plan are becoming evident amongst investors, local communities, national laboratories, and government agencies, where we are seeing increased attention given to our business approach and operating track record. Looking ahead… With the first quarter largely in the books, I believe 2024 will be another year of growth for the company. Consistent with our recently announced plans for a paste backfill plant at the Golden Chest and the purchase of additional land near the mine, we have already initiated some of the capital investments necessary to deliver overall production growth and cost savings. These expenditures have been addressed through a combination of equipment financing, first quarter cash flow, disciplined and largely targeted sales in our ATM facility with known investors, and funds received from the exercise of existing warrants. With the backdrop of higher gold prices, higher grades, and more streamlined operations we anticipate the combination of open field running and the ‘pulling forward’ of our development plans at the Golden Chest to add significantly to our financial profile for the year and future production growth. In short, this is it. This is the time.”